Leadership 101.
Jack Welch, former CEO of GE, was on CNBC recently, and he discussed leadership pertaining to the Gulf Coast oil disaster. With advanced degrees in engineering, he critiqued President Obama’s handling or mishandling the BP affair.
First, he said the President should have brought together the top engineers from other oil companies, and the best ideas should have been pursued to stop the flow of oil. Obama is an attorney, more intent on placing blame, and that became the crux of arguments about his leadership.
The U.S. is lurching from rhetoric of one “unprecedented disaster” after the next. Many Americans feel rudderless, lost at sea and no port in sight. Turning on the news night after night and watching oil gush into the Gulf is no help either. The blame game in Washington is no longer working, as more Americans turn inward, staying close to home and not spending.
Interestingly, entrepreneurial spirit is still alive and well in New York City. Since September 11th, New York is once again fragmenting into neighborhoods where local restaurants and bars are advertising bargains and sports events via blackboards and posters. In the Union Square and East Village, this has been very noticeable.
I observed a Parisian photographer having a serious World Cup discussion concerning France’s loss to Mexico. He sat next to a Mexican restaurant worker having a beer at a sports bar. Young women were entering the bar around 8 wearing Lakers uniform tops. A bunch of golf enthusiasts were huddled at the end of the bar watching the U.S. Open.
Restaurants have been opening early in the morning. On Thursday night I already saw blackboards noting that they would be open to air the Slovenia and American match the following morning. After the U.S. and England match last weekend, a West Village retailer noted a surly attitude on the streets.
When business is lousy, entrepreneurs become more creative. Business has been bad since the financial meltdown in 2008 and 2009 for poorly run restaurants. The sorting out process continues. But one thing is certain either for local restaurants or a Macy’s. To be successful, entrepreneurs need to cater to consumer needs and core audiences.